Air France-KLM cargo activity weighted by its
Posted by admin | Under Uncategorized, features, money, news, special Saturday May 15, 2010Tough week ahead for Air France. On Wednesday, the group should announce operating losses of around EUR 1.3 billion for its fiscal year ended March 2010. They will be close, historical, 1993. Since then, Air France has tripled its turnover.
If the amount of such losses is already known (the company has prepared the public mind when it announced its latest quarterly results), their decomposition is less.
For more than 600 million euros, the losses are related to the impact of fuel hedges, the advance purchase of oil at a given price from banks.
According to our information, the management of Air France declined to comment, cargo activity has on his side lost 499 million euros, of which 50 million are attributable to the subsidiary Martinair.These figures indicate that if the passenger activity has been shaken by the crisis, especially the cargo, which penalized the company.
Cargo activity came first in the crisis with volume declines in mid-2008. "They have suffered from the downturn in April 2008, six months before the bankruptcy of Lehman Brothers, said a government source. At the group's executive committee, it was decided not to increase capacity by cargo aircraft for the winter. "
Air France-KLM Cargo has gone through severe turbulence, with a decline in volumes of 22% from last year. The Asian market, driven by imports of consumer goods, has experienced the biggest drop.The United States, more towards capital goods, have them ground earlier but in lower proportions.
Reduced capacity
At the same time, the company has drastically reduced the wing. 700 departures in two years have not been replaced at Air France-KLM Cargo. The adjustment of staff accompanied a decline in cargo capacity. In September, the company launched the adjustment freighter (CAP). Objective: To reduce capacity, concentrating freight traffic on the bunkers at the expense of cargo planes dedicated to freight alone, and be beneficial to the end of the year 2011-2012. In this context, Air France has got rid of two brand new Boeing 777s it has sold to FedEx before they are delivered at Paris this winter.
These aircraft, offered 250 million euros each at list prices and traded 150 million euros, were sold at the same price.The transaction still cost 30 to 50 million euros in Air France, which had to pay storage costs for the aircraft at Boeing and significant financial costs.
The company also leases two Boeing 747 Russian Air Bridge. "They were bought at a time when the dollar was high, said an analyst. It was more interesting for Air France to rent and sell them in five years. "Since then the two aircraft were flying under the colors of Air Bridge. They just make the transport of missiles between Russia and Chateauroux.
This decrease of 16.2% of capacity has led to a dramatic reduction in costs of 19%. Florence Parly, the owner of the cargo, has managed to reduce the unit costs of 2.4% per tonne km (RTK).The rigor of the former Secretary of State Budget worries the unions of Air France, who believe it will prevent the rebound in activity after the crisis.
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